Yes

>>Bitcoin for America Act: A Plan to Revamp Tax Payments and Build a U.S. Strategic Reserve

Bitcoin for America Act: A Plan to Revamp Tax Payments and Build a U.S. Strategic Reserve

crypthub

3 days ago

Bill Overview

A new bill introduced in Washington would let Americans pay federal taxes with Bitcoin. Representative Warren Davidson frames it as a step toward making the U.S. the “crypto capital of the world.” Payments would be funneled into a newly created Strategic Bitcoin Reserve. The proposal is presented as a modernization of the financial system. It aims to capture Bitcoin’s potential appreciation against an inflating dollar.

Financial Impact

Allowing tax payments in Bitcoin gives taxpayers more flexibility while creating a government‑held asset that could grow over time. Davidson argues Bitcoin, untouched by quantitative easing, offers a stable store of wealth. The reserve is expected to lessen reliance on debt financing and improve the nation’s balance sheet. By holding a scarce, appreciating asset, the U.S. could strengthen its fiscal position in a digital global economy.

Reserve Management

The Treasury Secretary would be authorized to accept, hold, and manage the Bitcoin received. Secure custody measures such as cold storage and geographically dispersed facilities would protect the reserve. Transfers to the government would trigger no taxable gain or loss for the payer. Annual disposals would be limited to preserve long‑term value. The reserve is intended to remain a lasting fiscal resource for future generations.